REG - Neometals Ltd - Lithium Chemicals Co-operation Update

NeometalsAnnouncement

03/10/2023 08:45

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RNS Number : 5139O  Neometals Ltd  03 October 2023

 

3 October 2023

 

Neometals Ltd

("Neometals" or "the Company")

 

Lithium Chemicals Co-operation Update

 

Innovative battery materials recycler, Neometals Ltd (ASX: NMT & AIM: NMT)
("Neometals" or "the Company"), refers to its previous disclosures in relation
to the Lithium Chemicals business unit, which is targeting construction and
operation of a lithium refinery adjacent to Bondalti Chemicals SA's
("Bondalti's") chlor-alkali operations in Estarreja, Portugal (Estarreja
Lithium Refinery "ELR").

The ELR would be operated by a potential 50:50 incorporated joint venture
between Bondalti and Reed Advanced Materials Pty Ltd ("RAM") (70% NMT, 30%
Mineral Resources Ltd) under a Co-operation Agreement between RAM and Bondalti
(together "the Parties") to evaluate the project.  The Parties have been
discussing revisions to that arrangement that move beyond the terms of the
Co-operation Agreement and as a result the Parties have allowed the
Co-operation Agreement to expire at the end of its term on 30 September
2023.  RAM and Bondalti (Bondalti and or its related entities) will continue
to co-fund the pilot trial and evaluation studies and have commenced
discussions in relation to updated arrangements. Neometals will make further
announcements in relation to those discussions as appropriate.

Authorised on behalf of Neometals by Christopher Reed, Managing Director.

ENDS

 

For more information, please contact:

 

 Neometals Ltd
 Chris Reed, Managing Director & Chief Executive Officer                 +61 8 9322 1182
 Jeremy McManus, General Manager - Commercial & Investor Relations       +61 8 9322 1182

 Cavendish Securities plc - NOMAD & Joint Broker
 Neil McDonald                                                          +44 (0)131 220 9771
 Peter Lynch                                                            +44 (0)131 220 9772
 Adam Rae                                                               +44 (0)131 220 9778

 RBC Capital Markets - Joint Broker                                     +44 (0) 20 7653 4000
 Paul Betts
 Jamil Miah

 Camarco PR                                                             + 44(0) 20 3 757 4980
 Gordon Poole
 Lily Pettifar

 

About Neometals

 

Neometals has developed and is commercialising three environmentally-friendly
processing technologies that produce critical and strategic battery materials
at lowest quartile costs with minimal carbon footprint.

Through strong industry partnerships, Neometals is demonstrating the economic
and environmental benefits of sustainably producing of lithium, nickel, cobalt
and vanadium from lithium-ion battery recycling and steel waste recovery.
Reducing the reliance on traditional mine-based supply chains and creating
more resilient, circular supply chains to support the energy transition.

The Company's three core business units are exploiting the technologies under
principal, joint venture and licensing business models:

 

·      Lithium-ion Battery ("LIB") Recycling (50% technology) -
Commercialisation via Primobius GmbH JV (NMT 50% equity). All plants built by
Primobius' co-owner (SMS group 50% equity), a 150-year old German plant
builder. Providing recycling service as principal in Germany and commenced
plant supply and technology licencing activities as technology partner to
Mercedes-Benz. investment decision for Primobius' first commercial 50tpd plant
and JV with Stelco in Canada expected end 2023;

 

·      Lithium Chemicals (70% technology) - Commercialising patented
ELi™ electrolysis process, co-owned 30% by Mineral Resources Ltd, to produce
battery quality lithium hydroxide from brine and/or hard-rock feedstocks at
lowest quartile operating costs. Co-funding Pilot Plant trials in 2023 with
Demonstration Plant trials and evaluation studies in 2024 for potential
25,000tpa LiOH operation in Portugal under a 50:50 JV with Bondalti,
Portugal's largest chemical company; and

 

·      Vanadium Recovery (100% technology) - aiming to produce
high-purity vanadium pentoxide from processing of steelmaking by-product
("Slag") at lowest-quartile operating cost. Investment decision with JV
partner, Critical Metals pending on planned 9,000tpa vanadium pentoxide
operation in Pori, Finland (NMT 72.5% equity). Feedstock sourced under 10-year
Slag supply agreement with SSAB and product offtake agreement with Glencore.
MOU with H2Green Steel for potential second, larger operation in Boden,
Sweden.

 

For further information visit www.neometals.com.au
(http://www.neometals.com.au/)

 

 

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